Growth Initiative Fund

Organization Overview

Growth Initiative Fund is located in Fargo, ND. The organization was established in 2018. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Growth Initiative Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Growth Initiative Fund generated $49.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $33.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE SUPPORT TO EXISTING AND NEW BUSINESSES IN THE COUNTY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE PURPOSE OF GROWTH INITIATIVE FUND, INC. (FUND) SHALL BE TO PROMOTE ECONOMIC DEVELOPMENT IN CASS COUNTY, NORTH DAKOTA. THE ORGANIZATION PROVIDES INCENTIVE LOANS TO EXISTING AND OUT-OF-STATE CLENTS LOOKING TO EXPAND OPERATIONS IN CASS COUNTY, ND AREA TO CREATE EMPLOYMENT WITHIN THE COUNTY. THE FUND IS SET UP FOR LOCAL GOVERNMENTS IN ORDER TO BRING PROFESSIONAL ASSISTANCE AND SUPPORT FROM THE PRIVATE SECTOR AND LESSEN THE BURDENS OF GOVERNMENT. THE FUND IS CURRENTLY SERVICING 79 PACE LOANS AND 3 FUNDING PARTNER LOANS.


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Board, Officers & Key Employees

Name (title)Compensation
Greg Mastrud
Chair
$0
F John Williams
Treasurer
$0
Chad Sapa
Vice Chair
$0
Shelly Kegley
Secretary
$0
Bernie Sinner
Director
$0
Josh Teigen
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$5,100
Investment income $44,531
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $49,631

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Growth Initiative Fund has recieved totaling $60,000.

Awarding OrganizationAmount
Greater Fargo Moorhead Economic Development Corporation

Fargo, ND

PURPOSE: GENERAL OPERATING AND PROGRAM SUPPORT

$60,000
View Grant Recipient Profile

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